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Business Roundtable Underscores Economic Case for Immigration Reform

Combining Personal Stories with Economic Analysis, Roundtable Details Immigrants’ Contributions to American Economy

WashingtonBusiness Roundtable today re-emphasized the powerful boost immigration reform would give to the American economy through a compilation of economic analyses and the personal stories of nine immigrant executives, including four CEOs, who are vital to the success of major American companies.

“The numbers and the people tell the story: Immigration is an all-around success for America’s economy, and fixing the system would produce a win-win deal to the benefit of both immigrants and native-born Americans,” said Greg Brown, Chairman and CEO of Motorola Solutions, Inc., and chair of the Business Roundtable Immigration Committee. “By putting an often neglected human face on the immigration issue, we’re reminded of the significant contribution immigrants make to our economy, businesses and society.”

The report released today, “Contributing to American Growth: The Economic Case for Immigration Reform,” profiles four CEOs:  

  • Jorge Benitez of Accenture, whose family fled Castro’s Cuba to resettle in Ohio;
  • Carlos A. Rodriguez of ADP, who was also born in Cuba;
  • Martin H. Richenhagen of AGCO Corporation, a native of Germany; and
  • Stephen M. Chipman of Grant Thornton LLP, who was raised in the United Kingdom.

Other immigrant executives featured include:

  • Krish Prabhu, who moved from India to build his technology career and now serves as the Chief Technology Officer of AT&T;
  • Eduardo Conrado, who fled war-torn Nicaragua as a child and now works as a senior marketing and IT executive with Motorola Solutions;
  • Ann Brodow, who left Ireland during an economic downturn to rise to a senior finance position with Verizon Communications;
  • Lucian Boldea, who left Romania after the fall of its Communist-era dictator and now works as a senior product executive with Eastman Chemical; and
  • Natalia Macias, who also fled Cuba with her parents and is a real estate executive at Tishman Speyer.

A compelling set of economic data also underscores the positive effect of immigration reform on the economy, including:

  • The Bipartisan Policy Center estimate that reform would increase GDP by 4.8 percent over 20 years and decrease federal deficits by $1.2 trillion;
  • The Partnership for a New American Economy estimate that immigrants or their children founded 40 percent of Fortune 500 companies; and
  • The Partnership for a New American Economy estimate that immigrants are nearly 50 percent more likely to start a business and help grow their local economies.

As business leaders representing every sector of the economy, Business Roundtable members understand the importance of fixing America’s broken immigration system. Immigration reform, done right, will help keep America secure and is essential for a healthier economy – accelerating growth, encouraging hiring and creating American jobs.

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